Daddy Zuckerberg vows to donate 99 pc of fortune

Daddy Zuckerberg vows to donate 99 pc of fortune

Facebook CEO Mark Zuckerberg on Wednesday announced the birth of his first child as he and wife Priscilla Chan pledged to give away 99 per cent of their company shares, currently worth a  $ 45 billion, to charity.

In a letter to the baby, Maxima, posted on his Facebook page, Zuckerberg said: “We’re so happy to welcome our daughter Max into this world. Everyone is happy and healthy. Thank you for all your love and support through our pregnancy. There is so much joy in our little family.”

His wife Priscilla Chan gave birth to the 7-pound, 8-ounce Max last week, but the 31-year-old newly-turned father posted the news on Facebook on Tuesday along with a photo of him with wife and the baby besides the letter written jointly by the parents.

“It’s a world where our generation can advance human potential and promote equality, by curing disease, personalising learning, harnessing clean energy, connecting people, building strong communities, reducing poverty, providing equal rights and spreading understanding across nations.

“We are committed to doing our small part to help create this world for all children. We will give 99 per cent of our Facebook shares - currently about $ 45 billion - during our lives to join many others in improving this world for the next generation,” the post stated.

The donation, which they call “a moral responsibility to all children in the next generation”, would not happen right away. According to a filing with the Securities and Exchange Commission, Zuckerberg plans to “sell or gift” no more than $ 1 billion worth of Facebook stocks every year over the next three years.

The social network’s filing also indicates that Zuckerberg plans to contribute the funds to a new initiative called the Chan-Zuckerberg Initiative to “advance human potential and promote equality for all children in the next generation”.

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